Time Deposit Summary Box

The information included in this table summarises key product features and does not replace any terms and conditions.

SUMMARY BOX Key product information for our Time Deposit Accounts
Account name	Time Deposit Account
Interest rates (AERs)	Rates change daily and depend on the currency, term and investment amount. Call us for today's rates on 0800 00 55 00. The rate is fixed for the term of the Account.
Tax status	Interest is paid net of basic rate tax unless you are eligible to receive gross interest in which Interest is paid net of basic rate income tax on any time deposit of £50,000 or under or the currency equivalent, unless you qualify for gross interest payments, in which case you must notify us and provide us with the appropriate documentation. Interest is paid gross on any Time Deposit over £50,000 or the currency equivalent at the time of deposit, as long as the term of the deposit is less than five years.
Conditions for bonus payments	N/A
Withdrawal arrangements	No withdrawals are permitted during the term of the account. Early closure is subject to a charge.
Access	By phone or in-branch.

Early closure would lead to a charge. A charge equivalent to 60 days' interest on the balance of the Account for terms of up to and including 6 months, or 120 days' interest for terms over 6 months will be incurred if you close your Account before the maturity date (except where the Account is closed following the death of the Account holder). We will notify you of the amount before we close the Account.

The 14-day cancellation period specified in the General Terms and Conditions does not apply to this Account.

The term of the Account will be agreed with you on Account opening.

The minimum deposit required to open an Account will be notified to you at the time of opening.

Where a deposit exceeds £50,000 (or foreign currency equivalent at date of deposit) and is invested for a fixed period of less than five years then interest arising from the deposit may be paid without the deduction of basic rate tax. You will be responsible for declaring the income to the HM Revenue and Customs on your tax return. Note that additions, withdrawals, or transfers of any or all of the deposit are not permitted during the fixed period.